Bioplastics firm sued after major deal fails

The securities fraud lawsuit, filed as a potential class-action civil litigation in Boston federal court, follows last month’s abrupt decision by agribusiness giant Archer Daniels Midland Co. to pull out of a joint venture with Metabolix because of “uncertain” financial returns.

ADM’s move precipitated a 45 percent plunge in Metabolix’s stock price and forced the “disappointed” company to rework its business plan and record millions of dollars in restructuring charges.

… Vollständiger Text: www.bostonherald.com/business/technology/general/view/20220222bioplastics_firm_sued_after_major_deal_fails/

Tags: Telles LLC, plantbased, biodegradable, Mirel